Check your knowledge

1.

One of your vendors, who is set up with a foreign currency, sends you an invoice in your local currency. What is the best way to process the invoice?

Clear the Currency Code field on the vendor card, process the invoice, and then set the Currency Code field on the vendor card back to the vendor’s currency.

Create a new vendor card on which you leave the currency code field blank and use the new card to process the LCY invoice.

Clear the Currency Code field on the Invoice Details FastTab of the purchase document.

Using the actual exchange rate, you should calculate the amount and process the invoice in the vendor’s currency.

2.

You are entering a sales order in a foreign currency and, before posting, you want to check the local currency amount. How can you perform this task?

Open the Statistics page and check the local currency fields, such as the Sales (LCY) field.

The local currency amounts are displayed in the section just underneath the Lines FastTab.

The Currencies FactBox displays the amounts in both the local and foreign currency.

You can only check the amounts in the sales order's currency.

3.

Which one of the following statements about currencies on vendor ledger entries is true?

A vendor ledger entry only displays the currency amount. To check the local currency amount, you need to open the detailed vendor ledger entries.

A detailed vendor ledger entry only displays the currency amount. To check the local currency amount, you need to open the vendor ledger entries.

A vendor ledger entry only displays the local currency amount. To check the currency amount, you need to open the detailed vendor ledger entries.

Vendor ledger entries and detailed vendor ledger entries display the local and foreign currency amounts.

Answer the following questions to see what you've learned.

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